Trading Analysis - 10th Oct 2018


10 October 2018

End of Day

Someone mentioned that today's trading was like the X-files - I can now see what they mean. There are numerous attempts to try and obscure or distract attention from what has been going on today:

1) Multiple small trades (400 & 600 shares) at 28.5p around 3pm when the actual trading position was 1 pence lower. Who buys 400 shares ? Who is charging them so much over the real price ? Do they really think that we are going to bamboozled into thinking that all the trades at 27.5p were sells - I mean really, especially when it was widely reported in the LSE board what the exact trading position was at the time.

2) Strange 'rollover' type trades of volume 99,629 and 99,420 - sold at around 1pm and then the precise same amounts of shares bought back again, at lower prices after 3pm. If you are lucky enough to buy back at lower prices you buy more shares with your money not the original quantity at less cost.

3) Strange paired trades at the end of trading - similar to what you would get with Bed & Breakfast combined trades, but not right - for example the Sells at 16:28:25 (18,250) and 2 seconds later (18,433) - both at identical prices - not what you would expect from Bed & Breakfast/ISA pairs - but values precisely 50 pounds apart. Another pair of 80,440 shares a minute later but the second trade is at lower prices - normally a B&B pair the second trade, the buy back, is at a slightly higher price. Why try and emulate end day trade pairs if you are not a Market Maker that can time both trades to within the same second ?

4) The 6 trades (3 Buys, 3 Sells) all of value £2000 in the 7 minutes between 15:22 and 15:29 - what is that all about ? Who 'rolls over' a £2000 position 3 times over ?

Why has all this been going on ? Good question - it is almost as if someone is trying out every pattern of distraction to see what we make of it.

At the end of the day there currently appears to be 800,000 more Buys than Sells but as I see no good reason why the trading position moved down between 1 and 2pm I expect that this surplus will be offset by a significant sell between those times,  yet to be reported. There were no further delayed trades from previous days reported so yesterday's surplus of >650K more Buys than Sells still stands.

This article only conveys the personal opinion of the author. Whilst every effort is made to ensure the content is accurate, we cannot guarantee the accuracy of the data shown. This article does not constitute professional, financial or investment advice and must not be used as a basis for making investment decisions.

Site content is not authorised by the FCA and you are not safeguarded by the Investor Protection measures of the Financial Services and Markets Act 2000. See our full disclaimer